Brits raring to travel despite lockdown uncertainty, survey finds December 9, 2020 The UK has a greater appetite for travel during the Covid pandemic than other EU countries, a study by ADARA, data specialist, found.
UK set to halt US tariffs in bid for post-Brexit trade deal December 9, 2020 The UK has broken ranks with the EU and is set to suspend tariffs against the US over subsidies, in an attempt to broker a post-Brexit trade deal. There has been a long battle between the US and the EU relating to state subsidies for aircraft manufacturers Airbus and Boeing. The World Trade Organisation last [...]
Uber sells off flying taxi division in drive for profit December 9, 2020 Uber has sold off its loss-making flying taxi division to California-based firm Joby Aviation, the second such disposal the ride-hailing firm has made in two days. In a statement released late last night, Joby said that Uber would invest an extra $75m into the company as part of the acquisition of Elevate. That takes Uber’s [...]
Balfour Beatty order book boosted by HS2 contract December 9, 2020 Balfour Beatty has forecast its year-end order book will grow after construction activity on the HS2 line was given the green light. In a trading update the construction firm forecast a year-end order book of around £17bn, a 20 per cent increase on the previous year. Despite delays caused by the pandemic, Balfour Beatty has [...]
Stagecoach profits plunge 91 per cent on lockdown restrictions December 9, 2020 Bus operator Stagecoach has taken a significant hit to its first-half profits as the pandemic continues to restrict its regional bus services. The company’s profits fell to £5.4m in the six months to 31 October compared to £65.9m in the same period last year. This came after revenue from £800.2m to £454.6m in the first [...]
Aberdeen Standard to buy 60 per cent of logistics property investor Tritax December 9, 2020 Aberdeen Standard Investments (ASI) will acquire 60 per cent of logistics real estate manager Tritax for an undisclosed sum, the two companies announced today, as it seeks to benefit from the boom in online shopping. Tritax is a fund manager that focuses on investing in logistics real estate such as warehouses in the UK and [...]
G4S agrees to Allied Universal sale in £3.8bn deal December 8, 2020 Security group G4S has agreed to sell its business to US-based Allied Universal, in a deal that will value the company at £3.8bn. Under the terms of the offer G4S shareholders will be entitled to receive 245 pence in cash for each G4S share. The G4S directors consider the deal fair, and intend to unanimously [...]
Boeing lost 63 more 737 Max orders in November as dire year goes on December 8, 2020 Boeing lost 63 orders for the 737 Max last month, even though the plane was finally cleared to fly again by regulators. In yet another dire month for the US planemaker, orders of all its different models fell by 28 planes in total. A number of airlines, including Virgin Australia and Air Canada, scrapped or [...]
Honda warns of production delays at Swindon plant due to transport disruption December 8, 2020 Japanese car giant Honda has warned that it might have to suspend production at its factory in Swindon due to delays in getting hold of parts as a result of transport disruption. The automaker operates a “just in time” system at the plant, where car parts arrive as and when they are needed. This can [...]
Bolt launches fund to help its London drivers transition to electric vehicles December 8, 2020 Bolt, London’s second biggest taxi service, is launching a Zero Emission Transition fund to move its London-based drivers over to electric vehicles. The fund will be worth around £250,000 and will come at no extra cost to riders or drivers. The money will be used to pay for four main things: Installing charging points, developing [...]